HSBC Reaffirms “Hold” Rating for Gold Fields (NYSE:GFI)

HSBC reissued their hold rating on shares of Gold Fields (NYSE:GFI) in a report issued on Thursday, MarketBeat Ratings reports. The brokerage currently has a $21.00 price objective on the stock.

A number of other research firms have also commented on GFI. JPMorgan Chase & Co. upped their price target on Gold Fields from $17.10 to $18.80 and gave the company a “neutral” rating in a research report on Wednesday, January 15th. Scotiabank upped their target price on Gold Fields from $20.00 to $23.00 and gave the company a “sector perform” rating in a report on Monday. Finally, StockNews.com upgraded shares of Gold Fields from a “buy” rating to a “strong-buy” rating in a report on Thursday, April 10th. Four investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus target price of $18.56.

Gold Fields Trading Down 2.6 %

Shares of NYSE:GFI opened at $24.04 on Thursday. The company has a 50-day moving average price of $20.66 and a 200-day moving average price of $17.22. The company has a market cap of $21.52 billion, a price-to-earnings ratio of 10.23, a price-to-earnings-growth ratio of 0.30 and a beta of 0.92. Gold Fields has a 12 month low of $12.98 and a 12 month high of $25.52.

Gold Fields Increases Dividend

The company also recently declared a semi-annual dividend, which was paid on Thursday, March 27th. Investors of record on Friday, March 14th were paid a $0.3752 dividend. This represents a yield of 1.6%. This is a boost from Gold Fields’s previous semi-annual dividend of $0.17. The ex-dividend date of this dividend was Friday, March 14th. Gold Fields’s dividend payout ratio is presently 25.96%.

Hedge Funds Weigh In On Gold Fields

Several institutional investors and hedge funds have recently added to or reduced their stakes in GFI. QRG Capital Management Inc. increased its stake in shares of Gold Fields by 52.3% in the 1st quarter. QRG Capital Management Inc. now owns 15,377 shares of the company’s stock worth $340,000 after acquiring an additional 5,279 shares in the last quarter. Janney Montgomery Scott LLC purchased a new stake in Gold Fields in the first quarter worth about $203,000. Assenagon Asset Management S.A. bought a new position in shares of Gold Fields during the first quarter valued at approximately $2,914,000. SG Americas Securities LLC lifted its holdings in shares of Gold Fields by 105.7% during the first quarter. SG Americas Securities LLC now owns 180,956 shares of the company’s stock valued at $3,997,000 after purchasing an additional 92,966 shares during the last quarter. Finally, GAMMA Investing LLC lifted its holdings in shares of Gold Fields by 21.0% during the first quarter. GAMMA Investing LLC now owns 3,742 shares of the company’s stock valued at $83,000 after purchasing an additional 649 shares during the last quarter. Hedge funds and other institutional investors own 24.81% of the company’s stock.

Gold Fields Company Profile

Gold Fields Limited operates as a gold producer with reserves and resources in Chile, South Africa, Ghana, Canada, Australia, and Peru. It also explores for copper and silver deposits. The company was founded in 1887 and is based in Sandton, South Africa.